WELL Health Provides a Corporate Update on Circle Medical

Executive Summary

• WELL Health Technologies provided a corporate update on its majority-owned subsidiary, Circle Medical, highlighting significant operational expansion and the resolution of a previously disclosed regulatory matter.
• Circle Medical has more than tripled its commercially insured patient base over the past year and is experiencing strong double-digit growth in new patient bookings and activations.
• The subsidiary resolved a U.S. Attorney's Office investigation regarding historical billing and supervision practices for USD $3.3 million, with no admission of wrongdoing, utilizing funds already provided for in prior financial guidance.

Key Details

• Patient Growth: More than tripled the number of commercially insured patients eligible to receive care on the platform over the past year.
• Booking Trends: Strong double-digit growth in new patient bookings and activations in May 2026 compared to May 2025.
• Geographic & Payer Reach: Provides care across 32 U.S. states, connected to 99 payers and approximately 14,000 health plans.
• Volume: Serves hundreds of thousands of patient visits annually.
• Legal Resolution: Settled a previously disclosed matter with the U.S. Attorney's Office for the Northern District of California concerning historical billing and supervision practices.
• Settlement Terms: No admission of wrongdoing; final payment of USD $3.3 million, fully covered by previously established provisions and in line with prior guidance.
• Management Update: Georgia Psarras confirmed as full-time Chief Executive Officer of Circle Medical (previously appointed Interim CEO in September 2025).
• Strategic Initiatives: Purposeful investments in updating clinical protocols and strengthening compliance frameworks (billing operations, legal, regulatory, and internal audit functions) to support expansion into all 50 states.

Notable Quotes

• Darren Binder, Chief Legal and Risk Officer, Circle Medical: "We are pleased to have collaboratively resolved this matter with the government. Throughout this process, we have continued to strengthen our compliance framework, including meaningful investments in our billing operations, legal, regulatory, and internal audit functions, reflecting the continued evolution and maturation of our organization as we continue to grow. We are confident in the robustness of our compliance and risk management programs and remain deeply committed to the highest standards of integrity, accountability, and service quality..."
• Georgia Psarras, CEO, Circle Medical: "I am proud of what this team has accomplished over the past year and excited about the opportunities ahead. We are moving forward with full focus on our patients and on expanding access to high-quality, insurance-based primary care across the country. Circle Medical has built an exceptional platform, and the compliance investments we have made along the way have left the organization stronger and better positioned to scale responsibly."